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Alitalia (2): from the Italian fiscal decree the "bridge-loan"

The new economic injection for the rescue of the carrier

It would appear that the fiscal decree of 2020 provides in its latest version, the "bridge loan" intended for the Alitalia air carrier. An unavoidable solution also considering the umpteenth extension requested for the presentation of the binding offer for the rescue of the former national airline (see AVIONEWS). Also the national secretary Filt-Cgil Fabrizio Cuscito had pointed out that without a further injection of liquidity, the Italian airline would have to ground the planes.

In an article in "Il Fatto Quotidiano" Antonio Amoroso, Cub's national secretary (Basic Unitary Confederation) said: "Once again the State puts its wallet on the pretense of private entities that are not even formally committed to buying the company. In addition, the money will be entrusted to commissioners who have so far squandered the 900 million loan without providing reliable data on the company's balance sheet. Here we are talking about public money that could have been invested to relaunch the company, not to make a living out, despite the denials of Minister Di Maio, two thousand redundancies".

According to "Wall Street Italia" on the text appears: "In order to allow the transfer of the corporate complexes belonging to Alitalia, Italian aerial company, in extraordinary administration and to the other air carrier of the same group also in extraordinary administration with decree of the Minister of Economic Development  and the Minister of Economy and Finance, a loan of € 350 million is granted to the same companies with a duration of six months in extraordinary administration, due to their unbridled management needs. The loan is granted with the application of interest at the six-month Euribor rate published on the business day prior to the disbursement date, increased by 1000 basis points, and it is returned, in prededuction, with priority over any other debt of the procedure, within six months from the disbursement and in any case within 30 days of the effectiveness of the sale of the business complexes. The loan can also be disbursed through treasury advances".

RC3 - 1225124

AVIONEWS - World Aeronautical Press Agency